Salini to deliver next phase of Diriyah Square. PLUS: Sukna launches MENA’s first open-ended, sharia-compliant direct lending fund

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WHAT WE’RE TRACKING TODAY

THIS MORNING: BYD to open more showrooms in Saudi, heating up EV market

Good morning, ladies and gents. We’re halfway through the week (and the year), and we’re getting more and more data on how the markets did in the second quarter and the first half. The Kingdom is topping Kamco Invest’s charts in bond and sukuk issuances in 1H, while our real estate market saw strong demand and high occupancy rates in 2Q, as per CBRE’s figures.

Leading this morning’s news well: WeBuild’s Salini bagged a USD 600 mn contract to carry out the next phase of Diriyah Square in Riyadh, while Sukna launched MENA’s first open-ended, sharia-compliant direct lending fund. On the startups scene, Lucidya closed the region’s biggest AI round to scale up Arabic-first CX tech.

FOR TOMORROW- We’re waiting on the fresh inflation figures from Gastat, due out today.

WEATHER- Riyadh is expected to see a high of 45°C and a low of 30°C, while Jeddah’s mercury will go as high as 41°C and as low as 31°C. Makkah will see a 40°C and a 30°C low.

PSAs-

The Royal Commission for Riyadh City has started acquiring properties for the second phase of its Road Corridors Development Program, it said in a post on X on Friday.

Who will be affected? Properties targeted for expropriation include those along Thamaniyah Road, the Second Eastern Ring Road, and Prince Mishaal Bin Abdulaziz Road, as well as two parallel bridges to the existing Suspension Bridge and areas linked to the planned upgrade of the Western Ring Road and Jeddah Road intersection. Affected property owners are instructed to submit their documents either online or in person at the Roads Implementation Office.

The project, which kicked off in August 2024 with an investment ticket of SAR 13 bn, aims at significantly enhancing traffic flow and improving access to the capital’s projects. The new development phase includes eight projects, with over SAR 8 bn in investments, the Saudi Gazette reports.

WATCH THIS SPACE-

BYD to accelerate Saudi expansion: Chinese automaker BYD — which entered the Saudi market last year — plans to have ten showrooms in the Kingdom by mid-2026, up from its current three, while targeting over 5k vehicle sales this year, Managing Director Jerome Saigot told Bloomberg.

Just the beginning: “We are not here to stay at five or ten thousand cars a year,” Saigot said, adding that the sales targets are set to increase substantially in the future.

Competition is heating up in our EV market. US giant Tesla opened its first showroom in Riyadh in April, joining BYD and other Chinese automakers like Geely and Zeekr in trying to gain a foothold in the market. BYD has been a fierce competitor with Tesla in recent months, with some analysts now expecting BYD to overtake Tesla in global EV sales for the full year.

IN CONTEXT- Saudi Arabia has been racing to become an EV hub, aiming for 30% of all vehicles in its capital to be electric by 2030. The Public Investment Fund is backing the country’s first auto plant with Lucid Motors and created its own EV brand, Ceer.

BUT- Hurdles like high costs, sparse charging, and extreme temperatures have stifled EV adoption at just over 1% of total car sales in the Kingdom.

AdvancedPetrochemical kicked off commercial operations at its new plants in Jubail Industrial City, after its subsidiary Advanced Polyolefins Industry completed their construction, it said in a Tadawul disclosure yesterday. The new facilities include a propane dehydrogenation plant with an annual production capacity of 843k tons and two polypropylene plants with a combined annual production capacity of 800k tons.

Already generating revenue: The whole project, which includes one of the largest polypropylene plants globally, acquired about SAR 9.5 bn of investments, CEO Fahad Al Matrafi told Asharq (watch; runtime: 8.24). The initial operations of one of its polypropylene production lines produced 400-450k tons in 2Q 2025, increasing the firm’s sales by 20%. The plants are expected to operate at full production capacity starting in 4Q.

The Kingdom has reportedly asked consulting firms to review the feasibility of its plans for The Line, as it reassesses spending priorities due to increasing government deficit, Bloomberg reported yesterday, citing sources it says are familiar with the matter. The firms were tasked with evaluating whether the current design is realistic and suggesting possible adjustments. While no final decisions have been made, any proposed changes would require approval from the Public Investment Fund (PIF) and the government.

IN CONTEXT- Recent fluctuations in oil prices have reportedly prompted comprehensive reviews of the Kingdom’s biggest planned investments, including Neom, in a bid to keep deficits and debt levels at a minimum. The review is led by Neom CEO, Aiman Al Mudaifer, to reassess budgets and progress of various developments, particularly some tourism projects along the Red Sea.

Obeikan + Azm trading halted ahead of main market move: The Saudi Exchange will suspend trading of Obeikan Glass and Saudi Azm shares for up to five sessions starting 15 July as both companies prepare to move from the Nomu parallel market to the main market TASI, according to two disclosures to Tadawul.

REFRESHER- Azm will transfer with an authorized capital of SAR 30 mn and 60 mn shares, while Obeikan Glass will move with an authorized capital of SAR 320 mn and 32 mn shares.

For decades, Sahel has been synonymous with summer's embrace: clear waters, crisp breezes, and vibrant nights. Last year, Ras El-Hekma cast a spotlight on its potential as a regional investment and tourism engine.

In the second issue of our Destination Sahel series, we’re digging deep into the infrastructure needed to support this evolution — and whether Sahel has a spot on the global tourism stage..

Subscribe to our Egypt edition to get the second issue of our series EnterpriseAM Destination Sahel in your inbox today at 10am.

DATA POINTS-

Tourism revenue in the Kingdom saw the strongest growth globally since the pandemic, with international tourism revenue rising 252% in 1Q 2025 compared to the same period in 2019, according to the UN World Tourism Barometer report (pdf). On a y-o-y basis, the Kingdom’s international tourism revenue increased 14% compared to 1Q 2024, landing in the 12th spot globally for growth rate.

International tourist arrivals in the Kingdom doubled since the pandemic, recording a 102% increase in 1Q 2025 compared to the same quarter in 2019. This is the third-highest growth rate globally and the second in the Middle East, far exceeding the global average of 3% and the Middle East average of 44%. Compared to last year, arrivals in the Kingdom rose 2% in 1Q 2025, placing Saudi Arabia in tenth place in Africa and the Middle East in terms of growth.

SPORTS-

US golfer Talor Gooch claimed his second individual victory at Valderrama, finishing at 8 under to edge out Spain’s Jon Rahm by one stroke at Liv Golf Andalucia, according to a statement. While Rahm missed out on the solo title, his team Legion XII captured its third victory of the season and seventh overall, beating Sergio Garcia’s Fireballs GC.

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THE BIG STORY ABROAD-

In a big reversal of his foreign policy stance towards Russia, US President Donald Trump threatened 100% tariffs on Russian imports — along with fresh sanctions — if Russia does not end its war on Ukraine within 50 days — and pledged bns of USD of new weapons for Ukraine. (Bloomberg | Reuters | Wall Street Journal)

Meanwhile, Trump is eyeing tomatoes and drones: The US will now be slapping Mexican tomatoes with a 17% tariff — separate from the 30% tariff on other imports from the country, while launching probes into drone imports, as well as imports of parts for unmanned aerial vehicles and for polysilicon, an important material for solar power. If the probes find that the imports are a threat to national security, new tariffs could be imposed. (Bloomberg | Reuters | New York Times)

Across the pond, the EU has prepared a list of USD 72 bn worth of US goods it plans to target with countermeasures as a retaliation against the US’ 30% tariff on EU imports. This includes Boeing aircraft, automobiles, Bourbon, machinery products, chemicals and plastics, medical devices, electrical equipment, and wine. (Bloomberg)

This comes as the EU’s lead negotiator, Maroš Šefčovič’s, warns of a “big gap” in trade talks with the US ahead of the 1 August deadline for the US’ reciprocal tariffs, the Financial Times reports.

ALSO- Keep an eye out for Wall Street’s earnings season: Major US banks including JP Morgan, Wells Fargo, and Citigroup are due to report their 2Q 2025 earnings today, and while forecasts are positive, it will be interesting to see how they fared during a volatile period marked by the introduction of tariffs and fears of a recession.

Salini secures USD 600 mn contract for next phase of Diriyah Square

Salini expands role in Diriyah Square: Italian construction firm WeBuild ’s subsidiary Salini Saudi Arabia secured a new contract worth USD 600 mn (c. SAR 2.3 bn) to carry out the next phase of the Diriyah Square development in Riyadh, Diriyah Company said in a press release yesterday.

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The details: The new phase includes the construction, finishing, and mechanical, electrical, and plumbing (MEP) works for more than 73 Najdi-styled buildings and public spaces across 365k sqm, featuring 400 shell and core retail units.

The area will form the pedestrian-friendly core of Diriyah Square, anchoring the development’s 400 planned retail, dining, and leisure brands. It adds to Salini’s current scope, including a 10.5k-vehicle underground parking facility, bus and VIP drop-off stations, and structural work for hotels, branded residences, offices, and the grand mosque.

WeBuild has been active in the Kingdom: WeBuild announced earlier this year the opening of four new stations along the Riyadh Metro’s Orange Line, and was awarded an estimated SAR 20 bn (USD 5 bn) contract by Neom in January 2024 to build dams for a planned artificial lake at its Trojena mountain resort, set to be a venue for the 2029 Asian Winter Games.

Sukna launches MENA’s first open-ended, sharia-compliant direct lending fund

Sukna launches MENA’s first open-ended, sharia-compliant direct lending fund: Sukna Capital received the green light from the Capital Market Authority (CMA) to roll out the region’s first open-ended, sharia-compliant direct financing fund, according to a statement (pdf).

Open-ended? The new vehicle aims to provide flexible capital to SMEs — meaning institutional investors can enter and exit periodically without long lock-up periods. This allows founders to finance their operations while maintaining full ownership and avoiding the constraints of equity financing.

Below target: “As of 3Q, SME lending in Saudi Arabia is estimated to be SAR 329.23 bn — just 9.1% of total bank credit — well below the Vision 2030 target of 15-20%,” said Fares Bardeesi, CEO of Sukna.

Mismatched development: Sukna attributed SME lending falling below targets to traditional financing structures not keeping pace with the rapid development of Saudi’s business environment. “The tech and startup ecosystem has matured significantly, but financing structures simply haven’t caught up.” Managing Partner of Sukna Ventures Waleed Alballaa said.

Saudi Arabia leads GCC in total debt issuances in 1H 2025

Saudi Arabia maintained its position as the region’s largest fixed income issuer during the first half of the year, raising some USD 50.2 bn in new bond and sukuk sales, according to Kamco Invest’s GCC Fixed Income Market Update (pdf). The Kingdom accounted for half of all GCC issuances during the period, despite a 31% y-o-y drop.

It’s a broader Gulf slowdown, but corporates are holding up: Total GCC issuances came in at USD 100.3 bn, down 22% y-o-y. The drag came almost entirely from governments, which halved their issuances to USD 36.6 bn.

UAE + Bahrain were the only bright spots: Emirati and Bahraini issuers were the only ones to buck the y-o-y downward regional trend. Total UAE issuances rose 3.8% y-o-y to 32.9 bn, driven by corporate issuers. Meanwhile, issuances from Qatar and Oman nearly halved on an annual basis.

Sukuk slumped, while bonds held steady: Conventional bond sales remained flat y-o-y at USD 60.9 bn in 1H 2025, while sukuk issuances fell nearly a third to USD 39.4 bn, amid rising market caution and a shift toward simpler debt structures. Perpetual bond issuance rebounded sharply, hitting USD 10.7 bn — already matching full-year 2024 levels, with Saudi and UAE issuers leading the way.

Green issuances are slowing: GCC green bond and sukuk volumes fell by more than half to USD 8.7 bn in the first half of the year. Saudi issuers still led with USD 5.6 bn in green paper, only slightly below last year’s tally. Issuances in the UAE stood at USD 3.1 bn, down from USD 5 bn in the same period last year.

GCC fixed income maturities piling up: GCC bond and sukuk maturities are set to remain elevated through 2029. Sovereigns face USD 226.1 bn in maturities over the next five years, while corporates must refinance USD 223 bn. Most of the region’s maturing debt is USD-denominated (59.3%), with banks and financial firms holding 75% of all corporate maturities.

Leading maturity schedules: Saudi Arabia faces the biggest wall of maturities at USD 166 bn through 2029, driven largely by sovereign paper. The UAE comes in second place with USD 146.8 bn.

The Fed situation: Uncertainty over US tariffs and a weaker greenback are clouding the Fed’s rate path, with one to two cuts now expected by year-end. Most GCC central banks are likely to follow suit due to USD pegs, though Kuwait — pegged to a currency basket — is expected to cut its rates by just 25 basis points.

LOOKING AHEAD- Debt issuance in the region is expected to pick up in 2H 2025, as issuers move to lock in lower rates. Kamco forecasts USD 21.7 bn in maturities through year-end, with government deficits and Kuwait’s planned USD 6 bn bond sale set to drive activity. Sukuk issuance is also seen rising on stronger demand and funding diversification.

Zooming out: The global debt market posted a record-smashing USD 6.4 tn in issuances during 1H, up from previous years. Companies, sovereigns, and financial institutions rushed to tap markets in a still-favorable rate environment, according to LSEG data.

Real estate market sees strong demand, high occupancy rates in 2Q -CBRE

Riyadh saw 5.9k transactions valued at SAR 7.8 bn in 2Q 2025, according to CBRE’s Saudi Arabia Real Estate Market Review (pdf). The demand was spurred by the launch of Azure's luxury Lamara project in Riyadh and a SAR 1.7 bn real estate investment fund to finance major projects in Riyadh and Jeddah. The projects are meant to bring Riyadh closer to an estimated 120k to 130k new residential units annually to meet demand.

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Riyadh’s prime offices are still crammed, maintaining over 95% occupancy rates in the second quarter, which has pushed average commercial rents up by approximately 4% q-o-q. There is a notable preference for Grade A office spaces, with about 70% of inquiries for smaller units under 1k sqm.

But we’ll be getting more space in the coming years: While only around 200k sqm of new office space is expected by the end of 2025, supply is projected to increase significantly in 2026 and 2027, with about 600k sqm expected each year. Jeddah's office market is also strengthening, with Grade A occupancy at about 95%.

On the retail front: Rents for super-regional and regional malls saw a marginal 1% y-o-y increase, with occupancy rates averaging 90%. In Riyadh, approximately 100k sqm of new retail supply is expected by the end of 2025.

Our retail sector is undergoing “retailtainment,” where shopping centers evolve into comprehensive entertainment destinations. Saudi Entertainment Ventures (Seven) is leading the transformation, investing over SAR 35 bn in 14 entertainment projects across the country.

BUT- Concerns about potential oversupply in secondary locations and the growing preference for e-commerce still pose challenges.

The big boys: 2Q saw the launch of two large-scale mixed-use developments in Riyadh — the SAR 2 bn Osus Eye project and the SAR 12.1 bn “Saudi Silicon Valley” known as Pulse Wadi. The Dar Al Hijra urban development project in Madinah is also moving forward with a new master plan design contract.

Lucidya raises USD 30 mn in Series B round

Local customer experience management platform Lucidya raised USD 30 mn in a series B funding round led by Impact46, marking MENA’s largest AI funding round, it said in a statement. New backers in the round included Wa’ed Ventures, Takamol Ventures, and SparkLabs, alongside returning investors Rua Growth Fund and ARG.

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Use of proceeds: The company will use the funds to expand its AI agent offering, aiming to automate customer-facing roles across support, marketing, and sales while ensuring compliance with the Kingdom’s Personal Data Protection Law. It also plans to scale up across MENA’s fast-growing customer relation management and customer experience software market, projected to hit USD 9 bn by 2030, according to the statement.

About Lucidya: Founded in 2016 by Abdullah Asiri (LinkedIn) and Zuhair Khayyat (LinkedIn), Lucidya’s AI-powered customer experience management platform serves over 75 mn customers across 11 countries. Its Arabic AI engine — achieving 92% accuracy — helps clients in telecom, finance, hospitality, healthcare, and government improve engagement and operational efficiency.

Jarir Marketing posts 2Q earnings

Jarir Marketing’s estimated net income grew 15.3% y-o-y in 2Q 2025 to SAR 197.2 mn on the back of increased sales and improved income margins, it said in a disclosure to Tadawul yesterday. The figure beats analysts’ forecast of a SAR 178.1 mn net income, according to Argaam’s data.

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Revenue marginally slipped by 0.1% y-o-y to SAR 2.6 bn over the same period as video game sales dropped.

During 1H 2025, Jarir’s net income was up 6.2% y-o-y at SAR 414.5 mn, while revenue increased 1.3% y-o-y to SAR 5.4 bn. This was driven by growth in smartphone, computer, and tablet sales, as well as after-sales services.

Al Jouf Cement taps Mansour Al Habdan as acting CEO

Al Jouf Cement appointed Mansour Al Habdan as acting CEO, following the resignation of CEO Abdulkarim Al Nuhair last week, according to a disclosure to Tadawul released yesterday. Al Habdan brings over 30 years of experience in the financial and banking sectors, having held senior leadership roles at several listed firms, most recently as CFO at Tabuk Cement Company.

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Schneider Electric launches Lauritz Knudsen brand in Saudi Arabia

EXPANSION-

Schneider Electric launched its global brand Lauritz Knudsen in the Kingdom, offering solutions and equipment for low-voltage electrical distribution and automation, according to a statement (pdf). Schneider acquired the India-based brand in 2020.

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Schneider + Saudi go way back: King Salman Energy Park (Spark) signed an agreement in January 2024 with Schneider Electric to establish a 20k sqm advanced tech manufacturing facility — set to be completed by the end of this year — to produce high-tech systems, including distributed control, emergency shutdown, and compressor control systems.

DEBT WATCH-

Saudi Company for Hardware (Saco) cancelled a SAR 50 mn credit facility with Saudi Awwal Bank on Sunday, as the funds were not used, it said in a disclosure to Tadawul. Loan protections provided by Saco for the original agreement signed in December were, consequently, nullified, including a SAR 50 mn promissory note and mortgage on the company's warehouse in Riyadh.

ENERGY-

Arabian Drilling extends Khafji Joint Operations contract: Arabian Drilling signed a three-year extension to its offshore drilling contract with Khafji Joint Operations, a joint venture between Aramco Gulf Operations and Kuwait Gulf Oil Company, according to a disclosure to Tadawul (pdf). The contract adds between 8% and 12% of Arabian Drilling’s 2024 revenue to its backlog.

TRADE-

Indian fertilizer firms IPL, KRIBHCO, and CIL signed an agreement with Maaden to import 3.1 mn metric tons of DAP fertilizer annually for five years, with an option to extend, according to a statement from India’s Chemicals and Fertilizers Ministry.

Wealth funds and central banks are shifting gears to navigate an unpredictable world

Times have changed, and the market is adapting. Sovereign wealth funds and central banks are altering their approaches in a bid to navigate the volatile global environment, Reuters reported, citing a survey by US-based global investment firm Invesco.

Investors are getting worried: The survey — taking place between January and March before Trump’s “Liberation Day” announcements — still showed a surge in concerns regarding market volatility and increased protectionism. Further down the road, climate change and higher levels of sovereign debt add to investors’ worries over the next 10 years.

Active management is the new trend: Funds managing over USD 100 bn in assets are increasingly moving to active management of their portfolios to weather the storm. While passive management — following weighted indices and portfolios — is traditionally more preferred as it seems to deliver better results, it needs predictable market conditions, which is “no longer the case,” Invesco’s head of official institutions Rod Ringrow told the newswire.

China is grabbing attention too: About 60% of wealth funds are planning to invest in Chinese assets, especially the tech market, in the next five years, with the “strategic urgency they once directed toward Silicon Valley,” according to the survey.

Alternative sources of income include private credit, with half of the funds actively increasing their allocations. Stablecoins — crypto pegged to USD and other currencies — are also seeing growing interest, especially among funds in emerging markets.

ALSO- Two thirds of the 58 central banks surveyed said they want larger, more diversified reserves to prepare for what is to come. Over 70% expressed concerns over US debt levels negatively affecting the USD over the long term.

BUT- Don’t expect the USD to weaken anytime soon. Some 78% expect the USD to maintain its strength for at least two more decades, until a credible alternative can rise to butt heads with the world’s reserve currency.

ALSO FROM PLANET FINANCE-

BTC climbed to an all-time high beyond the USD 120k threshold yesterday amid growing investor sentiment and favorable market conditions. The cryptocurrency has gained over 29% YTD. (Reuters)
Investment banking at major US banks could be in for its 14th consecutive quarterly underperformance in 2Q 2025, with revenues projected to fall nearly 10% y-o-y to USD 7.5 bn — less than a quarter of total revenues — for JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley. (Financial Times)

MARKETS THIS MORNING-

Asian markets are mostly in the green this morning, while investors wait for insights on China’s economy. Hong Kong’s Hang Seng is up 0.8%, while Shanghai Composite is down 0.5%. Wall Street investors are also waiting for big banks’ earnings and inflation data, keeping futures virtually unchanged.

TASI	11,214	-0.4% (YTD: -6.8%)
MSCI Tadawul 30	1,437	-0.4% (YTD: -4.8%)
NomuC	27,357	-0.3% (YTD: -13.1%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	33,727	+2.0% (YTD: +13.4%)
ADX	10,063	0.0% (YTD: +6.8%)
DFM	5,857	0.0% (YTD: +13.5%)
S&P 500	6,269	+0.1% (YTD: +6.6%)
FTSE 100	8,988	+0.6% (YTD: +10.1%)
Euro Stoxx 50	5,371	-0.2% (YTD: +9.7%)
Brent crude	USD 69.09	-1.8%
Natural gas (Nymex)	USD 3.45	+4.1%
Gold	USD 3,350	-0.4%
BTC	USD 120,159	+1.3% (YTD: +28.5%)
Sukuk/bond market index	914.38	+0.3% (YTD: +1.4%)
S&P MENA Bond & Sukuk	145.86	-0.1% (YTD: +4.2%)
VIX (Volatility Index)	17.20	+4.9% (YTD: -0.9%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.4% yesterday on turnover of SAR 4.5 bn. The index is down 6.8% YTD.

In the green: Alistithmar Reit (+9.9%), SIIG (+4.6%) and Shaker (+4.5%).

In the red: Emaar EC (-4.1%), Naseej (-4.0%) and MBC Group (-3.8%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.3% yesterday on turnover of SAR 25.6 mn. The index is down 13.1% YTD.

In the green: Miral (+7.8%), AME (+5.5%) and Jana (+5.5%).

In the red: Mayar (-9.2%), Future Care (-7.4%) and Alhasoob (-6.1%).

CORPORATE ACTIONS-

#1- Seera Group Holding tapped SNB Capital as the financial advisor for its capital reduction, it said in a disclosure to Tadawul. The travel giant has yet to secure the Capital Market Authority’s approval.

REMEMBER- Last month, Seera’s board recommended an 8.7% capital reduction to SAR 2.7 bn through the cancellation of around 26k shares, citing a relative capital excess to the company’s needs.

#2- Al Tharwah Al Bashariyyah’s board recommended a 10% share capital increase to SAR 25.9 mn, which will be carried out by tapping the company’s share premium balance, it said in a disclosure to Tadawul yesterday. The plan will see the company increase the number of its shares to around 5.2 mn, which will be used in exchange for acquiring shares, stakes, or assets and allocated under the employee stock program.

#3- Al Baha Investment and Development Company is now called Saudi DrabInvestment Company, after its general assembly approved the rebranding, it said in a disclosure to Tadawul yesterday. The company is now registered on Tadawul’s website as Saudi Darb.

#4- Yanbu Cement Company’s board approved distributing SAR 78.75 mn in cash dividends for 1H 2025 at SAR 0.5 per share, according to a disclosure to Tadawul. The payout will be made on 28 August.

CALENDAR

JULY

July (Second week): World Intellectual Property Organization (WIPO) Global Awards 2025 awards ceremony, Geneva.

8 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

17 July (Thursday): Deadline to register for the Kingdom’s first civil aviation hackathon

Avithon.

20 July (Sunday): Real Estate Brokerage Forum, Riyadh International Convention and Exhibition Center, Riyadh.

29-30 July (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

AUGUST

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

5-17 August (Tuesday-Sunday): 2025 Fiba Asia Cup, Jeddah.

3Q 2025

The National Water Company is expected to award a construction contract for the Hail Region Water Networks project.

SEPTEMBER

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference (SMIC), Ritz-Cartlon, Jeddah.

15-17 September (Monday-Wednesday): Money 20/20 Middle East, Riyadh.

17-18 September (Wednesday-Thursday): US Federal Reserve Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER

1 October (Wednesday): Electronic salary transfer via the Musaned platform to include employers with two or more domestic workers.

1-3 October (Wednesday-Friday): Saudi Green Building Forum, Riyadh.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

15 October (Wednesday): Russian-Arab Summit.

17 October (Friday): Saudization for private healthcare roles enters its second phase.

22-23 October (Wednesday-Thursday): Private Capital Forum, Riyadh.

27-30 October (Monday-Thursday): Global Health Exhibition, Riyadh Exhibition and Convention Center, Riyadh.

28-30 October (Tuesday-Thursday): Future Investment Initiative (FII9), King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh.

28-29 October (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

NOVEMBER

3-9 November (Monday- Sunday): WTA Tour Finals, Riyadh.

11-13 November (Tuesday-Thursday): TouriseSummit, Riyadh.

17-20 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre, Riyadh.

22 November (Saturday): The Ring IV, ANB arena, Riyadh.

23-26 November (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh.

24-26 November (Monday-Wednesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

27-30 November (Thursday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

28-30 November (Friday-Sunday): UIM F1H2O World Championship, Jeddah.

30 November (Sunday): Zatca 21st E-invoicing integration wave deadline.

DECEMBER

1-4 December (Monday-Thursday): International Conference on Nuclear and Radiological Emergencies, Riyadh.

1-4 December (Monday-Thursday): 61st ISOCARP World Planning Congress, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

31 December (Wednesday): Zatca 22nd E-invoicing integration wave deadline.

31 December (Wednesday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

December: Made in Saudi exhibition, Riyadh International Convention and Exhibition Center, Riyadh

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh.

13-14 February (Friday-Saturday): Jeddah E-Prix 2026, Jeddah.

31 March (Tuesday): Zatca’s 23rd E-invoicing integration wave deadline.

27-29 April (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

26-29 October (Monday-Thursday): World Energy Congress, Riyadh.

Signposted to happen sometime in 2027:

The World Water Forum takes place in Riyadh.
The Ocean Race finishes in Amaala on the Red Sea.
Riyadh-Kudmi transmission line to be completed.

Signposted to happen sometime in 2Q 2027:

The Hail Region Water Networks Project is expected to be completed.

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